On July 5, 2019, Ethiopia announced plans to open its telecom and agriculture sectors to private investors, marking a significant shift in the country's economic policies.
According to State Minister of Finance Eyob Tekalign Tolina, the government plans to sell up to 49% of Ethio Telecom, the country's sole mobile and internet provider, to private firms. The company has over 40 million customers and is expected to face stiff competition from foreign multinationals.
"Ethiopia plans to make Ethio-Telecom a first-class service provider," Eyob said in Addis Ababa. "The government plans to open the sector to competition in addition to partial privatisation, to improve Ethiopia's digital footprint."
The government also plans to open parts of its agricultural sector to outsiders, including the sale of several state-owned sugar projects. Foreign firms will be given the option of direct sale or entering joint ventures of public-private partnerships.
"Ethiopia has sought investment from foreign buyers located in Europe, Asian and even African countries. The Ethiopia Ministry of Finance and Economic Cooperation expects the privatisation of at least five to six sugar factories within six to twelve months," Eyob said.
